It's live: Overstock.com now accepting Bitcoin

Last month, large e-tailer Overstock.com announced that it would begin accepting Bitcoin as a payment option in 2014. As of today, the company is now accepting the digital currency, much earlier than anticipated.

CEO Patrick Byrne says the company got in touch with Coinbase.com (large Bitcoin payment processor) last week, who informed them that with a dedicated team they could launch in a week.

"They actually came back with a plan on the evening of New Year's Day on how get live in a week, we've had 40 people from diff parts of company, [on the project], including customer service agents," added the exec.

Within two hours of launch, Byrne says over $10,000 worth of Bitcoins were used by over 100 purchasers.

8 user comments

The one burning question in the back of my mind is what happens with BitCoins are counterfeited or exploited i a way no on ever thought possible? I tried a quick search just after posting this... Sure enough some people are already counterfeiting them...

Thing is, that article doesn't say anything about counterfeiting BitCoins, except in the title. I'm not saying this is impossible - there's hardly any information in that article - but it's FAR more likely these BitCoins were generated through some kind of botnet mining, which is becoming increasingly common.

It isn't really all that implausible that the LA Times could be more than a little confused about the whole thing.

This message has been edited since its posting. Latest edit was made on 10 Jan 2014 @ 21:55

dude they already said that bitcoin is vulnerable to attack.. people could be mining coins that have already been mined.. this bitcoin is the Devil.. a product of the government to get closer to one world currency

Originally posted by lxfactor: dude they already said that bitcoin is vulnerable to attack.. people could be mining coins that have already been mined.. this bitcoin is the Devil.. a product of the government to get closer to one world currency